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that will be calculated, and quite frankly, in a more simplified form been standard tax law. host: professor bob kelly? guest: when i say chaos i am -- professor buckley? >> when i say chaos, i am referring to two things. the irs has done programming based on their being a patch enacted by the end of the year. most tax returns software has made the same calculated gamble. i agree that the government needs revenue. i do not think there is any question of that. if you just say that the amt is a good tax because it raises revenue, i do not argue on the notion that we need money, however is an extraordinarily arbitrary way of raising revenue. it raises revenue not from the super wealthy. the amt applies to few people making more than half of $1 million. it is counter-intuitive. if you are going to raise revenue, it should be as president obama has suggested, shared sacrifice, and that sacrifice has to come from people making more than half of $1 million. host: how do the very wealthy get out of paying the amt? guest: because of the rate structure. the rate between $200,000 and $500,000 are at least as hig
will have failure. >> i will turn to the audience -- bob? >> i wanted to respond to the entitlement piece. i am a huge fan of paul ryan. i think the guy -- regardless of if you agree, he puts things out there and things about them. i think on entitlements it is very unfortunate the ryan budget did not do anything in the first 10 years. that created an unfortunate set of expectations. i agree -- $27 trillion of unfunded liabilities down the road. we can make changes right now to the medicare program that is not painful to seniors but painful to politicians. we can begin -- it begins to do the things we need to do. the best thing we can do for our country, the best thing we can do for those people struggling for jobs is to go ahead and do this now, put it in the rearview mirror. the only thing lacking is not intellect but political courage. secondly, we have to have entitlement reform that is real. this is where the money is. on the revenue case -- if you can get two people in the room, we can move beyond red lines as tim was saying and resolve this. among the mass of people on the democratic
with the top democrat on the house budget committee, chris van hollen, along with bob corker and mark warner. and then at 9:00 eastern, president obama and house speaker john boehner. they also spoke about the fiscal cliff today. the president said republicans might be willing to agree to higher tax rates on the wealthy in january. then the house speaker called on the obama administration to respond to the republicans' deficit reduction proposal that was released earlier this week. president obama is at 9:00 eastern and then speaker boehner. at the museum today, florida senator marco rubio sat down with michaelen of "politico." he answered questions about the fiscal cliff. republican outreach to hispanic voters and a potential campaign for president. this is 45 minutes. [applause] >> thank you very much. you had a late night. >> not really. >> is bob still here? what would you like to ask senator rubio? [laughter] >> are you still doing this? >> ask him a real question. this is a great chance. >> last night you talked about a new direction for the republican party. and one of the things that
york, bob mendez from new jersey and i believe senator gillibrand will be here shortly. the senators have been a strong partners in this rebuilding effort. it is a great privilege to work together. we are really strong team we share the value of a quick action and sufficient resources to get this job done. as i mentioned, we are in the largest transportation. in the country and it takes diligence and skill of our friends and colleagues. senator schumer. >> thank you, mr. chairman. first, thank you for this hearing but also for your great partnership. new york and new jersey were together as a bipartisan by- date delegation along with our colleagues from rest of the northeast to deal with this awful, awful devastation. it is good you are in so many important positions that will have a lot of say in how we deal with this and we're grateful forthank you, ranking , senator wicker. west hamilton beach was in my old congressional district. it is one of the few volunteer fire departments in new york city. it is right on the water, the great jamaica bay. the generosity of mississippi to west
table agrees we ought to move in this direction. bob corker, senator corker, said that the other day. others have said that as well. and i really don't think it's a -- either a political gotcha or political advantage. i think it will do what the gentleman talked about, it will give confidence to 98% of the american people who pay taxes that they don't have to worry on january 1 about their taxes going up. it seems to me that's a positive for our economy. because it will give them confidence that they're going to have resources to do some of the things that will help our economy grow. i understand the gentleman's position is that there'll be 2% who won't be -- have that confidence and 3% of small businesses, as the gentleman points out, those 3% are relatively large businesses in the sense that that 3% gets 53% of the business income. he's correct. those are large small businesses. or in many cases, individuals who just make a lot of money. that's fine. but they're not the majority, i think job creators, in terms of numbers of small businesses, who have added one or two or three peopl
their meeting with president obama. >> i talked to the republican leader bob this is generally -- about this generally. we had a constructive meeting. i hope something positive will come from that. the republican leader and i and our staffs are working to see what we can come up with. but it should not take a long time to do that. but it would be in everyone's interest if we were in session tomorrow. we have another vote that has been set up >> you were talking about sunday, right? >> yes. we're going to have another caucus a following that, and hopefully by that time we will have made a determination, senator mcconnell and i, and we can do something on the floor in addition to what i talked about. we do need that time to have everybody kind of step back a little bit. if we come up with something, it is not that easy. we're dealing with big numbers. i think it was a very positive meeting. there was not a lot of clarity in the meeting. everyone knows how important it is. -- hilarity in the meeting. everyone knows how important it is. >> i share the view of the majority leader. we had a g
are pleased to have our distinguished colleagues chuck schumer from new york, bob mendez from new jersey and i believe senator gillibrand will be here shortly. the senators have been a strong partners in this rebuilding effort. it is a great privilege to work together. we are really strong team we share the value of a quick action and sufficient resources to get this job done. as i mentioned, we are in the largest transportation. in the country and it takes diligence and skill of our friends and colleagues. senator schumer. >> thank you, mr. chairman. first, thank you for this hearing but also for your great partnership. new york and new jersey were together as a bipartisan by-date delegation along with our colleagues from rest of the northeast to deal with this awful, awful devastation. it is good you are in so many important positions that will have a lot of say in how we deal with this and we're grateful for that as well as your leadership. thank you, ranking member, senator wicker. west hamilton beach was in my old congressional district. it is one of the few volunteer fire departments in
Search Results 0 to 7 of about 8 (some duplicates have been removed)

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